With the trial of the Tornado Cash co-founder ending its eighth day, a witness testified Roman Storm had control over some of the funds connected to the mixing service. US prosecutors in the criminal case against Tornado Cash co-founder and developer Roman Storm offered testimony from an Internal Revenue Service (IRS) agent as they prepare to rest their case on Thursday. According to reporting from Inner City Press on Wednesday, IRS Criminal Investigation Special Agent Stephan George testified he had reviewed transaction records connected to cryptocurrency exchanges Crypto.com and Binance. George reportedly said that Storm “[had] control” over funds after an account connected to Binance sent crypto to Tornado Cash smart contract addresses, based on communications between the co-founders: Storm, Alexey Pertsey and Roman Semenov. Read more
A pro-crypto US government, near-insatiable institutional investor demand, and the chance for ETH staking ETFs made ETH a top performer last week. Key points: Bitwise analysts said new US crypto laws favor Ether, boosting its role in tokenization and stablecoins. Institutions pile into ETH, with staking ETFs expected to add $20 billion-30 billion yearly. Read more
After a $10 million loss became public on X, crypto hedge fund Asymmetric is pivoting away from liquid trading strategies. Update (July 23 at 10:00 pm UTC): This article has been updated to remove inaccurate information previously attributed to Asymmetric CEO Joe McCann. Crypto hedge fund Asymmetric Financial is pivoting away from liquid trading strategies following sharp underperformance and public backlash from investors. In a post shared on X Wednesday, CEO Joe McCann acknowledged that the fund’s current approach “is no longer serving our LPs” and confirmed that Asymmetric will begin transitioning capital away from liquid trading into illiquid investments. Read more
SOL is down nearly 10% on the day, but charts suggest the bull trend remains intact. Key points: SOL dropped 9.5% as $30 million in long liquidations took place. A bearish divergence in futures CVD and elevated funding rates suggests that a long squeeze triggered the correction. Read more
Nature’s Miracle, Upexi and Japan's Kitabo are the latest companies adopting crypto treasury strategies. A growing number of traditional companies are beginning to experiment with digital assets as part of their corporate treasury strategies, signaling a shift in how businesses view crypto’s role in financial management. This week alone, companies from sectors as diverse as agriculture, consumer manufacturing and even a nearly 80-year-old Japanese textile company announced allocations to tokens like Bitcoin (BTC), XRP (XRP), and Solana (SOL). On Wednesday, Nature’s Miracle, an agricultural technology company, announced it would allocate up to $20 million for an XRP (XRP) corporate treasury, making it one of the latest firm to move to an altcoin treasury strategy. Read more